Governor Issues Call For Special Session Of Legislature

Governor Bob Holden has issued the call for a special session of the Legislature. The Governor is calling lawmakers back to Jefferson City to try to raise more money for public schools. Holden says withholdings have hurt education, and he’s asking lawmakers to eliminate four so-called corporate loopholes: The Geoffrey loophole which allows companies like Toys-R-Us to avoid paying Missouri corporate income taxes; the law which gives tax breaks to owners of luxury boats; the loophole which allows businesses to keep sales taxes they have inappropriately collected; and the elimination of breaks for the timely filing of withholding taxes. Holden hopes this effort will raise $44-Million.